Traders Buy Shares of General Dynamics (GD) on Weakness

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Traders bought shares of General Dynamics Co. (NYSE:GD) on weakness during trading on Thursday. $62.81 million flowed into the stock on the tick-up and $36.26 million flowed out of the stock on the tick-down, for a money net flow of $26.55 million into the stock. Of all equities tracked, General Dynamics had the 33rd highest net in-flow for the day. General Dynamics traded down ($2.13) for the day and closed at $169.59

GD has been the subject of a number of research analyst reports. FIG Partners upgraded General Dynamics to an “add” rating in a report on Tuesday, January 8th. Drexel Hamilton reiterated a “buy” rating and issued a $230.00 price target on shares of General Dynamics in a report on Monday, February 4th. Credit Suisse Group reiterated a “buy” rating and issued a $190.00 price target on shares of General Dynamics in a report on Monday, January 14th. Cowen reiterated a “buy” rating on shares of General Dynamics in a report on Wednesday, March 6th. Finally, Argus downgraded General Dynamics from a “buy” rating to a “hold” rating and set a $170.91 price target for the company. in a report on Thursday, January 31st. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $207.88.

The stock has a market cap of $48.65 billion, a PE ratio of 14.85, a P/E/G ratio of 1.57 and a beta of 1.13. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.23 and a quick ratio of 0.83.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, January 30th. The aerospace company reported $3.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.98 by $0.09. General Dynamics had a return on equity of 28.33% and a net margin of 9.24%. The business had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.34 billion. During the same quarter in the previous year, the firm posted $2.50 EPS. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. Research analysts forecast that General Dynamics Co. will post 11.72 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be given a dividend of $1.02 per share. The ex-dividend date is Thursday, April 11th. This represents a $4.08 dividend on an annualized basis and a yield of 2.41%. This is a positive change from General Dynamics’s previous quarterly dividend of $0.93. General Dynamics’s payout ratio is currently 32.57%.

In other General Dynamics news, VP Gary L. Whited sold 14,640 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $165.38, for a total transaction of $2,421,163.20. Following the completion of the transaction, the vice president now owns 30,462 shares in the company, valued at approximately $5,037,805.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher J. Brady sold 2,327 shares of the business’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $171.23, for a total value of $398,452.21. Following the transaction, the vice president now owns 5,134 shares of the company’s stock, valued at approximately $879,094.82. The disclosure for this sale can be found here. Insiders have sold a total of 21,547 shares of company stock valued at $3,609,299 in the last 90 days. Insiders own 6.90% of the company’s stock.

A number of hedge funds have recently made changes to their positions in GD. Oregon Public Employees Retirement Fund boosted its position in General Dynamics by 14,601.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,581,635 shares of the aerospace company’s stock worth $61,000 after acquiring an additional 9,516,460 shares during the period. Matthew Goff Investment Advisor LLC lifted its holdings in shares of General Dynamics by 18,540.8% in the third quarter. Matthew Goff Investment Advisor LLC now owns 4,959,204 shares of the aerospace company’s stock valued at $26,604,000 after buying an additional 4,932,600 shares during the period. Capital World Investors acquired a new stake in shares of General Dynamics in the third quarter valued at $492,331,000. Capital International Investors lifted its holdings in shares of General Dynamics by 79.5% in the third quarter. Capital International Investors now owns 2,642,678 shares of the aerospace company’s stock valued at $541,009,000 after buying an additional 1,170,662 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of General Dynamics by 2.5% in the third quarter. BlackRock Inc. now owns 17,451,297 shares of the aerospace company’s stock valued at $3,572,628,000 after buying an additional 426,955 shares during the period. Institutional investors own 87.49% of the company’s stock.

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About General Dynamics (NYSE:GD)

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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